Calgon Carbon Corporation (CCC) Rating Lowered to Neutral at Janney Montgomery Scott

Calgon Carbon Corporation (NYSE:CCC) was downgraded by equities researchers at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, July 13th, MarketBeat Ratings reports. They presently have a $16.00 price objective on the industrial products company’s stock, down from their prior price objective of $18.00. Janney Montgomery Scott’s price target would suggest a potential upside of 14.70% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Calgon Carbon Corporation from a “strong sell” rating to a “hold” rating in a report on Monday, May 1st. Sidoti reissued a “buy” rating and set a $20.00 target price (up previously from $18.00) on shares of Calgon Carbon Corporation in a report on Wednesday, July 12th. BidaskClub raised shares of Calgon Carbon Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. ValuEngine raised shares of Calgon Carbon Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 3rd. Finally, Roth Capital set a $16.00 target price on shares of Calgon Carbon Corporation and gave the stock a “hold” rating in a report on Saturday, April 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Calgon Carbon Corporation presently has an average rating of “Hold” and a consensus target price of $18.20.

Shares of Calgon Carbon Corporation (NYSE:CCC) traded up 3.33% during midday trading on Thursday, hitting $13.95. The company had a trading volume of 579,116 shares. Calgon Carbon Corporation has a 52 week low of $13.10 and a 52 week high of $18.80. The company has a market capitalization of $708.58 million, a P/E ratio of 100.36 and a beta of 1.09. The firm’s 50 day moving average is $15.50 and its 200 day moving average is $14.80.

Calgon Carbon Corporation (NYSE:CCC) last issued its earnings results on Friday, August 4th. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14. Calgon Carbon Corporation had a net margin of 1.27% and a return on equity of 5.46%. The firm had revenue of $153 million during the quarter, compared to analysts’ expectations of $151.18 million. During the same quarter last year, the company posted $0.15 earnings per share. The firm’s revenue was up 15.4% compared to the same quarter last year. Equities research analysts anticipate that Calgon Carbon Corporation will post $0.52 EPS for the current year.

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In other news, Director J Rich Alexander sold 5,251 shares of Calgon Carbon Corporation stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $14.25, for a total value of $74,826.75. Following the sale, the director now owns 24,183 shares in the company, valued at $344,607.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.32% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Comerica Bank raised its stake in shares of Calgon Carbon Corporation by 5.7% in the fourth quarter. Comerica Bank now owns 54,163 shares of the industrial products company’s stock valued at $907,000 after buying an additional 2,916 shares during the period. State Street Corp raised its position in Calgon Carbon Corporation by 8.2% in the fourth quarter. State Street Corp now owns 1,199,971 shares of the industrial products company’s stock worth $20,401,000 after buying an additional 90,818 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Calgon Carbon Corporation by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,661,661 shares of the industrial products company’s stock worth $45,249,000 after buying an additional 28,374 shares during the last quarter. Renaissance Technologies LLC raised its position in Calgon Carbon Corporation by 16.7% in the fourth quarter. Renaissance Technologies LLC now owns 548,200 shares of the industrial products company’s stock worth $9,319,000 after buying an additional 78,300 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Calgon Carbon Corporation by 15.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 6,956 shares of the industrial products company’s stock worth $119,000 after buying an additional 941 shares during the last quarter. Institutional investors and hedge funds own 81.41% of the company’s stock.

Calgon Carbon Corporation Company Profile

Calgon Carbon Corporation is a manufacturer of activated carbon, with capabilities in ultraviolet (UV) light disinfection. The Company provides purification solutions for drinking water, wastewater, pollution abatement, and a range of industrial and commercial manufacturing processes. The Company operates through four segments: Activated Carbon and Service, Equipment, Consumer and Other.

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